Copper positions for a comeback

When Apple, the world’s richest company, recently said its performance in China had hit a wall, it made headlines globally and sent markets into a tailspin. Copper followed suit, as analysts and investors digested what looked like confirmation of China’s slowing growth.

That’s a big deal when the country takes nearly half the world’s supply, estimated at about 24 million tonnes this year. The copper price has fallen by more than US$1000 per tonne since optimism peaked early in 2018.